It has been accepted for over 270 years that the expected monetary value (EMV)of the St Petersburg game is infinite. Accepting this leads to a paradox; no reasonable person is prepared to pay the predicted large sum to play the game but will only pay, comparatively speaking, a very moderate...

This paper presents an overview of the application of the mathematical theory of 'high-low' search to firms' pricing and production decisions. We show how this methodology can be used to determine an optimal sequence of price-quantity decisions by a firm through time. We suppose that the firm...

Several management accounting studies have investigated the behavioural impact of evaluative style, a concept that generally refers to the manner in which supervisors use accounting information to evaluate the performance of subordinates. Although most studies study this behavioural impact at...

Purpose – The purpose of this paper is to understand the origins and nature of unexpected events that affect complex projects, by relying on a view of projects as social systems. The authors argue that the project relation to its environment is mediated by a model of this environment that is...

Purpose – The purpose of this paper is to deal with the appropriateness of using the Monte Carlo simulation as a technique to calculate risk in real estate development. Design/methodology/approach – The paper is divided into two interlinked segments. The first segment examines the general...

Purpose The purpose of this paper is to describe the way real estate data collection and dissemination can be improved. Design/methodology/approach The paper investigates that how information entropy fits into real estate research and data using Kelly betting as a framework. Findings...

Purpose – The purpose of this paper is to clarify a number of important facts about info‐gap decision theory. Design/methodology/approach – Theorems are put forward to rebut claims made about info‐gap decision theory in papers published in this journal and elsewhere. Findings –...

Purpose – The US Government adopted the base realignment and closure (BRAC) to resolve the military, economic and political issue of excess base capacity. There have been five rounds of BRAC since 1988, and more are expected to come in the years ahead. The complexity of the closure and...

Purpose – The purpose of this paper is to present the argument that in principle any company can become a good company by adopting certain characteristics which define the good in enterprise affairs and affirm and reinforce everyone with a stake in the company – managers, workers, suppliers,...